Micro and Small Enterprise (MSE) Development and Building Alternative Livelihoods for Vulnerable Groups

The Micro and Small Enterprise Development (MSE) Project in Guyana addressed critical bottlenecks hindering the development of MSEs and the ability of vulnerable groups to establish alternative livelihoods. These included limited access to finance and insufficient technical and business skills.

To tackle these challenges, the project implemented various initiatives. Access to finance was improved through a credit guarantee facility, an interest payment support facility, and a low-carbon grant scheme targeting vulnerable individuals with viable business ideas in low-carbon sectors. The project specifically targeted MSEs seeking to transition into low-carbon sectors. Moreover, a training voucher scheme enabled MSEs to acquire necessary skills from existing training institutions that was provided for recipients.

RESULTS

A total of 222 loans were approved for beneficiaries in low-carbon sectors, with US $3,368,558.22 disbursed. Additionally, 559 grants were approved for entrepreneurs, including those from vulnerable groups, totaling US $792,890.31 disbursed. These financial interventions are estimated to have created 2,101 jobs.

Furthermore, the project prioritized skill development by providing training to 3,738 individuals, including 1,308 men and 2,430 women, at no cost to each participant. Training covered various areas such as basic business management, record keeping, packaging and labelling, specialized courses for female entrepreneurs, climate-smart agriculture, sustainable forestry, sustainable mining, videography, photography, cosmetology, cookery, and craft.

The MSE Project in Guyana successfully addressed key challenges faced by MSEs and vulnerable groups by enhancing access to finance and providing essential technical and business skills. Through a combination of financial support and comprehensive training programs, the project significantly contributed to job creation and economic empowerment within low-carbon sectors, fostering sustainable development in the region.